Method and system for forecasting sales based on N-Gram model

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United States of America Patent

PATENT NO 11416881
SERIAL NO

17216029

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Abstract

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This disclosure relates generally to method and system for forecasting sales based on N-Gram model. The present disclosure provides accurate prediction of sales for optimal operations to reduce the cost. The method receives a plurality of inputs of each product comprising a sales history, and a current price bin. The categorical sale(s) for each product is discretized based on the sales history by clustering each product sales history into a one or more groups based on a maximum sales velocity range. Further, a probability table is generated for the discretized categorical sales of each product based on computing a round off weighted mean and a median using a N-Gram model. Then, a smooth probability table is computed for the generated probability table. To forecast sales multistep prediction for the smooth probability table is computed based on at least one of a joint approach, a bootstrapped approach, and a step greedy approach.

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Patent Owner(s)

  • TATA CONSULTANCY SERVICES LIMITED

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Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Achar, Avinash Chennai, IN 15 8
Karthik, Gokul Chennai, IN 1 0
Ravindran, Balaraman Chennai, IN 6 49

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